Fluid operated systems are widely used in which a working fluid is supplied to a closed system so as to move it from one state to a second state and which, on exhausting the fluid, returns to its initial state. Examples of such systems are hydraulically and pneumatically-operated rams and jacks. Conventionally, separate supply and exhaust valves, i.e. valves having separate housings and operating means are provided to control the supply and exhaust of fluid to and from the system. The present invention essentially provides a control valve in which both functions are incorporated in a single housing and a single manual operating means is arranged to operate both the supply and exhaust functions of the valve.